Asian stocks were mixed on Wednesday after U.S. President Donald Trump's latest comments on tariffs raised uncertainty in Chinese markets. Investors in Asia were relieved on Monday after Trump decided not to immediately impose significant tariffs on China.

On an overall basis, global fund managers expect less than 5 per cent return from Asia ex-Japan stocks in the next one year, BofA Securities' survey findings suggest.

Europe’s stock benchmark was on track for a record high and US equity futures gained as optimism over more artificial intelligence spending under Donald Trump offset uncertainties over looming tariffs.